The industry challenge
Mortgage lending can be a complex process, with high-value lending decisions requiring in-depth customer assessment and accurate fraud detection. Often, the process has involved extensive manual activities; however lenders are seeing significant benefits from automation and streamlining of processes, improving customer service with no sacrifice in accuracy.
Mortgage relationships are often longer than other credit arrangements, but with limited opportunities for communication, lenders need to make the most of every opportunity to build loyalty for a long-term profitable relationship.
The answer
Experian's proposition meets the challenges faced by mortgage lending organisations. Spanning the customer life-cycle, lenders can accurately assess applicant’s ability and propensity to pay, prevent application fraud, manage the customer relationship and effectively prevent and manage delinquency.
Lenders can reduce costs and services times through streamlining processes, using internal and external sources of customer insight effectively throughout the customer relationship.